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Commerce Secretary: Trump is ‘not going to back off’ on tariffs

  • US and global markets fell sharply following President Trump's tariff announcement, with the Nasdaq Composite Index down nearly 5 percent by lunchtime on the same day.
  • Commerce Secretary Howard Lutnick stated that there is little chance the administration will reconsider its trade policy.
  • Trump's tariffs start at 10% for imports from countries like the United Kingdom and Brazil, escalating up to 46% for Vietnam and 49% for Cambodia.
  • The White House dismissed concerns over the market reaction, with Press Secretary Karoline Leavitt urging Wall Street investors to 'trust in Trump.
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Reforma broke the news in Mexico City, Mexico on Thursday, April 3, 2025.
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